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Wednesday, 18 July 2018

4NEW-Green Powered Waste-To-Energy Crypto Mining


4NEW-ICO-Review, Blockchain, Cryptocurrency4New is a blockchain application which facilitates the production of clean and green energy for the mining process.  A more comprehensive way to describe this ecosystem is that it utilizes energy produced through renewable, non-renewable, waste or any other technology in the mining process. The smart contracts are used to measure the amount of energy produced to mine 1 unit of cryptocurrency. Below, we will elaborate on how this platform helps to solve the problems of the industry.

Efficient utilization of waste to produce free energy

As of today, we dispose of waste worth 2 billion tones every year. If it grows at the same rate, the amount of utilized waste will be doubled in the next 25 years. 4New's every plant uses up to 100,000 tons of waste per year and processes it to produce green energy. The method is environment friendly and economical. 

Eliminates the use of fossil fuels for energy production

80% of the energy being produced in the world is by using fossil fuels and the demand is growing as the time passes. With these facts, we can easily say that our planet will keep getting warmer and it will contribute to global warming. The main problem is the cost of the fossil fuel, which results in high electricity bills. The mining costs are very high and in most of the cases, the energy used to mine coins surpasses the base value of the coins. The 4New platform offers an economical solution to these problems by producing green energy constantly, throughout the year. The energy is scalable and it can either be used on the mining farms or sold to the national grids. 

Produces energy as per consumption rate

Energy consumption for mining crypto currencies is very high. For example, mining one Bitcoin will cost as much energy as being used by more than 30 households. The 4New platform is a smart ecosystem which produces as much energy as needed and hence, offers a solution to the consumption problem globally. It is the first platform which is eco-friendly, economical and efficient to address the energy crisis and mining problems of the crypto sphere. Currently, there are two power plants already active with more to come as the venture progresses. 

The native KWATT token 

4NEW-ICO-Review, Blockchain, CryptocurrencyAll the operations of this project will be carried out by using the native currency of the platform, KWATT. It is a utility coin which can be used for crypto mining transactions, trading, money transferring and global healthcare services. The token follows a technical standard of ERC-20 and uses smart contracts. The token holders can sell their electricity to the National Grid of UK or they can choose to utilize it at crypto mining farms. Users are free to choose between these two energy consumption options and have a control over where their energy has been utilized. The business model is scalable with more than 30% of the profit dedicated to installing new plants which will eventually make it a long-lasting and sustainable business model. 

Useful Links:

Auther's Details:

Raihan Shakeel
Eth Address: 0x7E676D85d45acc57A7483F3DE33BF6E87A42b10e

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Item Reviewed: 4NEW-Green Powered Waste-To-Energy Crypto Mining Description: 4New is a blockchain application which facilitates the production of clean and green energy for the mining process. Rating: 5 Reviewed By: Raihan Shakeel
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